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Ikej Electric Says Inflation, Forex Threatening Its Operations

Ikej Electric Says Inflation, Forex Threatening Its Operations

  Ikeja Electric Plc, yesterday in its sustainability report titled, “Building A Customer-Centric Business-Our Journey to Sustainability,” said inflation, foreign exchange scarcity among other challenges have continued to threaten its operations, Speaking on the report, the chief executive officer, Mr. Anthony Youdeowei said “conditions such as inflation and Foreign Exchange (forex ) fluctuations still pose […]

Still On CBN’s Forex Policy

Still On CBN’s Forex Policy

The Central Bank of Nigeria (CBN) was reported to have said on Monday that it would not allow free floating of the naira. This is a scandalous pronouncement that anyone with a rudimentary knowledge of economics cannot but deplore. The CBN is not expected to make pronouncements that are not fair to the Nigerian market. […]

Naira Reverses Loss After Dropping To 500/Dollar

Naira Reverses Loss After Dropping To 500/Dollar

  The Naira dropped against the United States dollar from 498 to 500 at the parallel market during the early trading hours on Monday, crossing the critical threshold currency analysts had predicted. Foreign exchange traders linked the development to relative scarcity of the greenback in the forex market. The local unit, however, reversed the loss […]

Black Market Naira At 499 Per Dollar 39 %Discount On Nigeria Rate

Black Market Naira At 499 Per Dollar 39 %Discount On Nigeria Rate

  Nigeria’s naira was quoted as low as 499 to the dollar on the black market on Tuesday, 39 percent weaker than on the official market, where the central bank has been selling the greenback to support the local currency. On the official market, the naira was quoted at 305.25 on Tuesday, the level it […]

Making Forex Trading Profitable

Making Forex Trading Profitable

Planning is the basis for profitable trading. At times, one loses focus, which could have a negative impact on a trader’s account. It has regrettably happened to me. Sharing my thoughts and experience on this venture for full-time and part-time traders is worthwhile. The points discussed below are areas of expedient focus. Training Training remains […]

Banks’ Dollar Sales To Clients Rise Up 26.92%

Banks’ Dollar Sales To Clients  Rise Up 26.92%

Trading activity in the Spot foreign exchange market between the banks and their clients for the week-ending January 20, 2017 stood at $203.70 million with an average daily turnover of $40.73 million, representing a 26.92 percent increase from the $160.50 million and average daily turnover of $32.10 million recorded in the previous week Activity in […]

Banks Make Big Moves As Investor’s Eye Dividends

Banks Make Big Moves As Investor’s Eye Dividends

Fig 1: Bank performance ytd (Jan 26) STOCK YTD % UNITY BANK PLC 29.09% FCMB PLC 20.00% ACCESS BANK NIGERIA PLC 18.40% DIAMOND BANK NIGERIA PLC 17.05% UNITED BANK FOR AFRICA PLC 14.44% STANBIC IBTC BANK PLC 13.33% FIDELITY BANK PLC 8.33% ZENITH BANK PLC 5.08% FIRST BANK OF NIG. PLC 5.07% WEMA BANK PLC […]

Zenith Bank, & Others Drive Equity Volume

Zenith Bank, & Others Drive Equity Volume

  HEAVY transactions recorded last week on the shares of Zenith International Bank Plc, Champion Breweries Plc and Diamond Bank Plc  drove the volume traded on the Nigerian Stock Exchange, NSE. Trading statistics made available at the end of the week showed that the three companies accounted for 252.189 million shares out of 990.584 million […]

Investors Lose N187bn In 3 Weeks – Stock Market

Investors Lose N187bn In 3 Weeks – Stock Market

INVESTORS in the nation’s stock market have lost over N187 billion in the first three weeks of trading in 2017, as market capitalisation of the Nigerian Stock Exchange, NSE, closed, Friday, at N9.059 trillion. The market capitalisation which represents the total value of investment by investors in the stock market dropped by 2.03 per cent […]

CBN To Sell N242bn Treasury Bills

CBN To Sell N242bn Treasury Bills

Meanwhile the CBN will this week sell treasury bills worth N242.4 billion in continuation of liquidity mop up operations. The treasury bills comprise N45.18 billion worth of 91 day bills, N80 billion worth of 182 days bills, and N117.2 billion worth of 364 days bills. This of course is to moderate the liquidity effect of […]

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